In a surprising turn of events, XRP has surpassed Bitcoin in trading volume in South Korea, with XRP's trading volume reaching $650 million compared to Bitcoin's $282 million. This significant achievement highlights the growing popularity and market acceptance of XRP in the region. The surge in volume is partly attributed to the launch of the Japan and Korea Fund by XRPL, aimed at fostering innovation and collaboration within these markets. This initiative has bolstered confidence in XRP, leading to increased demand and a subsequent price rise of 8.46% to $0.594.
The recent developments come amid the backdrop of the SEC's canceled meeting that was expected to discuss significant crypto issues, including a potential settlement with Ripple. Despite the initial price dip following the news, XRP quickly rebounded due to high demand. Furthermore, whale activity has been notable, with a significant movement of 20 million XRP tokens to the BitGet exchange, which fortunately did not negatively impact the price. These events underscore the strategic importance of the South Korean market for XRP and its growing influence in the global crypto landscape.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
